Trulieve Launches Clone Sales In Massachusetts, CEO Kim Rivers Buys Stake In Company For 100K Ahead Of Merger With Harvest

Cannabis company Trulieve Cannabis Corp. TRUL TCNNF has successfully launched a pilot program selling its premium-quality cannabis clones at its Northampton, Massachusetts-based company.

Based in Tallahassee, Florida, the company announced that it is currently the only multi-state operator to provide home growers with its products in the form of consistent, healthy, top-tier plants.

The move comes ahead of its previously announced merger with Harvest Health & Recreation Inc. HRVSF. The $2.1 billion deal has been negotiated for months now and is expected to generate revenue of $1.2 billion in 2021.

Kim Rivers, the CEO and more than 10% owner of Trulieve, said that the company "supports home grow initiatives in Massachusetts, and we are excited to offer our top-tier genetics to those who would prefer to grow their own cannabis plants at home."

At the time of the program launch, Trulieve released a limited amount of its Chocolope NewBerry Sativa strain, which can be ordered online through the Company's Northampton location website and will be available for in-store pick up at 216 North King Street, Northampton, Massachusetts. The shop debuted in the Bay State in May.

"We're delivering on our promise to meet cannabis consumers wherever they are in their level of experience, as well as our commitment to expanding access to the plant as we continue to grow in the Massachusetts market," Rivers added.

On Tuesday, Rivers purchased some 2,105 Trulieve's shares at $27.72 per share and 1,404 shares at $28.18 per share for roughly $98 000. Following both transactions, Rivers now owns 81,429 shares of Trulieve.

Price Action: Trulieve shares traded 1.42% higher at $27.52 at the time of writing Wednesday late morning.

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